BrightBid releases white paper: 79% marketers report boost in ROI using AI tools
Speqta AB's (publ) ("Speqta") main service BrightBid has conducted a study among marketers in the UK. Of 200 respondents, 84% said they use AI tools of some kind, with the top three uses being email marketing (33%), content marketing (29%) and social media post generation (27%). 79% of senior marketing executives report increased ROI using AI tools.
BrightBid, Speqta's main service and adtech platform, conducted a study in the UK in autumn 2023 that found that the majority (84%) of marketing executives are already using AI tools in their digital advertising strategies, with 79% saying that using AI tools has increased their return on investment.
● 85% of marketing executives are confident in AI tools
● 64% plan to use them more in their marketing campaigns
● 71% of marketing executives express concern over the ethics of using AI tools
Building on this success, 64% plan to integrate more tools into their workflow in the future. Key application areas include automation, increasing efficiency, and enhancing results. Respondents used a wide range of tools but generative AI, in most cases ChatGPT, was the most popular technology.
Its launch in November 2022 sparked global interest in generative AI tools and their impact on work processes. Businesses have been quick to acknowledge this and provide training on these new technologies. As a result, 88% of marketers said they feel satisfied with the training they’ve received on the use of the tools, and 86% believe they understand the AI algorithms well.
The latest white paper “The truth about AI tools: insights from a UK marketers’ point of view”, highlights the current AI revolution and its impact on modern marketing. Based on an exclusive survey of 200 marketing leaders in the UK, it looks at how businesses leverage AI tools to improve marketing outcomes to help more marketers access the benefits of the technology.
While the majority of marketers are already making the most of these tools, 8% still don’t use them at all, or not for work purposes. Reasons for delaying uptake included concerns over data quality, budget constraints and lack of familiarity with the technology. Majority (71%) of respondents also expressed concerns over ethics in the use of AI, highlighting the need for open discussion over regulation.
Gustav Westman, CEO and Co-founder of BrightBid, says:
“There’s no doubt that AI drives revenue. An overwhelming majority of marketing executives - 79% - said AI contributes to improved ROl and acknowledged that this success can be directly attributed to using AI tools. However, there are still significant barriers to AI adoption, with some marketers citing lack of training and budget constraints. The landscape is evolving rapidly, so we hope this peer-to-peer insight helps all organisations find ways to start benefiting from this technology.”
Kate Cox, Chief Marketing Officer at BrightBid, comments:
“When used correctly, we’ve seen that AI simply amplifies and enhances the campaign instead of overtaking it. 40% of marketing executives we surveyed admit that these tools enhance their results, and while it can sometimes feel like a ‘black-box’ we’re getting to a point where it’s no longer an option to avoid using AI. This is the time to truly understand this technology by leveraging unique insights that help drive even better outcomes for marketing efforts.”
BrightBid’s "The Trust About AI Tools: Insights from a Marketer’s Point of View" can be found here.
Survey Methodology:
● Research partner: CensusWide
● Region: UK
● Conducted: August 2023
● Sample: 200 Marketing Managers and above
● Job titles: CMO, head of marketing, PPC account manager, PPC analyst, PPC manager, Digital marketing manager, Paid search manager, paid search analyst
● Sectors: agnostic
Contact:
Fredrik Lindros
CEO Speqta AB (publ)
+46 723 10 66 66
www.speqta.com
About Speqta:
Speqta is an Adtech company that enables online advertisers to optimise their marketing through data and AI. The company’s SaaS service BrightBid (including Bidbrain) is a tool to give customers the best possible results and bridge different ad platforms. Speqta is listed on Nasdaq First North Premier Growth Market in Stockholm under the ticker “SPEQT”. Redeye AB serves as the company’s Certified Adviser.